Pundi X, a Singapore-based blockchain developer, has announced that its blockchain-powered point of sale (POS) devices XPOS now supports PayPal payments.
Pundi X announced the news in a blog post published on Tuesday, June 30. Through this inclusion of PayPal to XPOS, along with crypto payments, customers can also make payments through their PayPal accounts.
According to Pundi X, PayPal’s inclusion on XPOS devices will work in pretty much the same way as anywhere else. Basic features like accepting payments will available on XPOS. Accepting payments also includes the payments via email or mobile phone number. US merchants will only have to show a certain QR code for their customers to pay.
The company said that accepting payments is just simply a step to make transactions painless for customers. The addition of PayPal to XPOS functionally also means that users can easily purchase cryptocurrencies such as BTC, ETH, BNB, DAI, NPXS, and USDT by using PayPal credit.
But this will available to merchants who have activated the XPOS crypto sale feature. The purchased digital then can be stored on the XPASS card, which can be paired with the Pundi’s XWallet app.
The deployment of PayPal on XPOS devices will be two stage process. First, XPOS merchants will have to apply for PayPal inclusion by sending their devices IMEI number to Pundi X. Merchants should have a PayPal business account to activate credit card payments. But at the first stage, only keyed transactions are supported.
Swipe card transactions will be available at the second stage when merchants will have a PayPal app directly installed on XPOS devices through a system upgrade, expected in the next two weeks.
Pundi X, founded in 2017, is developing blockchain-based point-of-sale (POS) solutions allowing businesses across the world to harness the power of blockchain technology. According to the company, the XPOS devices are already live in 30+ markets globally providing a borderless payment ecosystem beyond fiat.
Zac Cheah, CEO and co-founder of Pundi X commented:
“It’s always been our belief that cryptocurrencies simply hold various advantages that fiat money does not. Aside from better transactions, of course, we see cryptocurrency as something that promotes financial inclusion. Combine PayPal’s massive user base with the fact that our XPOS® devices are now operating in 30+ markets globally and you could start seeing situations where dealing in crypto is as trouble-free as buying a bottle of water.”
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